27) Create an NPV model in excel for a land subdivision with the following assumptions (include the Excel model in your submission):

- 30 lots at $50,000 per lot, increasing at 3% per year - Absorption rate of 10 lots per year - Costs of marketing 5% of gross revenues - IRR of 15%

What is the justified acquisition cost of the land?

What would be the justified acquisition cost of the land if the absorption changed from 3 to 5 years?

28) What role do the public sector and government play in the development process, who are the players involved, and cite an example of current events we discussed which illustrated this (5 extra bonus points for excellent answers).